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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Dynamics Fiscal Calend...
Microsoft Dynamics GP (Archived)

Dynamics Fiscal Calendar Change

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Posted on by Steve Flaherty 60

Our CFO wants to explore the possibility of moving from a 12 period to a 13 period financial fiscal calendar. Historical data should also reflect the change. Feasibilty / Pros/ Cons? Any feedback would be appreciated. Thanks........Steve

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  • L Vail Profile Picture
    L Vail 65,271 on at

    Hi Steve,

    Is he wanting to have an extra period for audit adjustments?  Will both periods 12 and 13 end on 12/31?

    What improvements does he expect as a result of this change? What are you using to prepare Financial Statements. How many other reports would be impacted by this kind of change?

    Leslie

  • Steve Flaherty Profile Picture
    Steve Flaherty 60 on at

    Hi Leslie:

     

                    My understanding is that the Finance department wants to go from a 4-4-5 12 period year to a 4-4-4 13 period year. Being a retail chain the expectation is that we would be better aligned for any trend analysis. We are on GP 2010 and utilize FRx for financial reporting. We also use the Fixed Asset module. We have only had one 15 minute meeting in regards to this topic. I was asked to reach-out to determine if there is existing Dynamics functionality that would allow us to covert our fiscal calendars (G/L and FA) and update current and historical data accordingly. Other posts indicate that we might be able to change our fiscal periods and then run a financial reconcile?

     

     

    Thanks for the quick reply.  Thanks…….Steve.

  • L Vail Profile Picture
    L Vail 65,271 on at

    Hi Steve,

    OK, I see. Yes, the GP GL will have no problem at all. It's a little tedious if you have a lot of years - OK it's a lot tedious, but it's doable. And, yes, you would need to run the financial reconcile utility to get the entries into the correct period bucket. FRx may plug along just fine so long as you haven't 'hard coded' any period dates. You'd need to check that out.

    My only hedge is Fixed Assets. I don't know about going back in history and 're-depreciating'. I'm thinking you'd need to be on the daily method rather than the period method. It's too late for me to try this one, but that is the red light that went off in my head.

    Kind regards,

    Leslie

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